The property asset involved in this transaction is a development site located at 2607 & 2617 South Federal Highway in Boynton Beach. The site is designated for a mixed-use, mixed-income multifamily project named The Dune, comprising 336 residential units, which include 298 apartments and 38 townhomes. Additionally, the project integrates retail space and structured parking facilities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $73,000,000
• Lender: Pacific Life Insurance Company
• Landlord: Jeffrey Burns & Nick Rojo - Affiliated Development
• Loan Type: Construction
• Market: Boynton Beach
• Total Units: 336
• Apartments: 298
• Townhomes: 38
• Reserved Units: 198 for households earning 80%–120% of AMI

This transaction was facilitated by the involvement of Pacific Life Insurance Company as the lender providing financial support. The developers, Jeffrey Burns and Nick Rojo, represent Affiliated Development, which is advancing the project under Florida’s Live Local Act with additional contributions from Palm Beach County’s Workforce Housing Exchange Program.